Candice"n"Darren

Hi can anyone help? we are in process of researching financial implications. any advice on what to do? do we have to open a bank account whilst still in uk (we r with HSBC) and how the hell do we get all money over to aus? we will be taking about £60k not sure what it is in $ but not sure what we need to do!!!
Candice

wmoore

Candice, if you're with HSBC then you can open an Oz HSBC account and transfer funds without too much stress (maybe ). Do a search on the forum for HSBC and you'll find it's been discussed before.

Bob

HSBC are pretty good with international accounts, just have a word with them about it, they'll probably have good advice. You can always do an online money transfer later, if you open another account later...

madsad

I will second that!,you shouldnt have much bother if your already with HSBC,give them a call & it will put your mind at rest
Donna.

Candice"n"Darren

Thanks guys thats great was thinking money would dissappear in cyberspace!!! I will go and speak with them I have been banking with them since i was 14 so a long time hope I have no probs!!

Wol

Sent you a PM!

Deb

Hi Candice,

We also bank with HSBC and the guy at the bank said they will only need six weeks notice to set up the accounts and transfer the money!


Good luck

Deb

Bix

Hi Candice,
Don't want to put a dampner on it but equally don't want you to have a nasty surprise.
We are also with HSBC and our experience was not good. They actually suggested we open an account with another bank as they don't have many branches in Aus !
Others have also had difficulty with them but you may be lucky.

We will be opening with the Commonwealth Bank who have given very good service to members here.
I think Warren gave the details on them - must find the thread.

JAJ

As Bix says, with HSBC it really seems to depend on who you speak to in the UK.

Commonwealth Bank offer a good service as a fall-back, including money transfer facilities. http://www.migrantbanking.co.uk

Jeremy

ABCDiamond

HSBC International Branch
Tel: 020 7991 7278 (For opening Australian Account from UK)

Many High Street branches won't know what to do, but if you ring the above number it is easy.

A HSBC UK to HSBC OZ account transfer is very easy and fast, and with good FX rates. Especially if you can speak to your local branch manager after the OZ account is set up.

hevs

They don't have MANY branches in Aus and for a pommy banker this may look a bit bleak. However, i will say for the millionth time .........................

"YOU CAN DO ALL BANKING TRANSACTIONS FOR HSBC AT ANY, YES ANY, POST OFFICE THROUGHOUT AUSTRALIA FREE OF CHARGE!!!!!"

Thank you for listening

mlbonner

I'm with Commonwealth; previously I was with Westpac but closed that a/c and have opened a new one now. I went with CommW as thats who my boyf is with and we're wanting to get a homeloan together in the future so thought this would be easiest. I get charged $5/month and have a savings a/c which has the usual bonus for not touching it for 6months etc. So far I've found them quite good, it only took me 5mins to set the a/c up once I was here.

Bix da Boss

QUOTE:
"YOU CAN DO ALL BANKING TRANSACTIONS FOR HSBC AT ANY, YES ANY, POST OFFICE THROUGHOUT AUSTRALIA FREE OF CHARGE!!!!!"

Thank you for listening [/QUOTE]

Pity they didn't disclose this information at the two/three meetings we had with them - would have been useful info don't you think Instead, as BIX said, they actually suggested we go with another bank because of the fact they have not many branches in OZ, them being 'the worlds local bank' and all that I also have been with them for years with no problems regarding my account here in the UK so did expect them to be more helpful and informative.

Obviously does depend on your actual branch and whether they have staff who know what they are talking about, but that should not be the case.

dazzac

We went with Commonwealth Bank - set up in the UK (London Office) . very helpful , they will set up your Aus account so you just pop into the local branch and have access to your money once you've arrived. Also they can hold your money in sterling so you can decide when to change depending on what the rate is doing.

HSBC don't have many branches over here so its hard to get hold of your money.

Just ring directory enquires and ask for Commonwealth Bank of Australia , London. Then once your through ask for migration services , it takes a bout a week to turn around the account. Then just transfer your 60k in to it electronically.

percyp

Don't bother asking the local branches for details most don't have a clue, just use them to sign anything, and do the rest direst with Oz, via internet, or call the international banking number.

Not found any problems with the lack of branches, only used the branch twice in 18 months. good interest and no charges.